Answer:
Technically, all applications for credit which involve more than one borrower require "joint intent" compliance. Anytime you do something beyond what was originally applied for, I believe you are taking a new application.
If you had a one year, single pay note and extended it for another year, I would argue that you really are doing a new note (not trying to get legal) and you really have a new request for credit (do it again); therefore, joint intent is triggered. If you had a borrower who couldn't make his payment this month and you extended the loan for one more month, I wouldn't worry about joint intent.
First published on BankersOnline.com 12/13/10
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